Kathmandu, March 21
As of mid-March, the country’s trade deficit has risen to Rs 863 billion, according to government statistics.
The Department of Customs says the amount of import, which had come down during the peak of the Covid-19 restrictions, got back to normality whereas that of the exports remained as weak as ever, leading to the increased trade deficit.
As the first eight months of the current fiscal year are over, the amount of trade deficit stands at Rs 863.2 billion that is 1.63 per cent more than the figure recorded exactly one year ago, the department informs.
In the past eight months, Nepal imported petroleum products only for Rs 121.61 billion.
Here are some highlights of the first eight months of the current fiscal year:
- Imports: Rs 943.98 billion (2.14% more than last year’s figure)
- Exports: Rs 80.77 million (7.84% more than last year’s)
- Gross foreign trade amount: Rs 1 trillion and 34.76 billion (2.56% more than last year’s)
- Share of import: 92.5%
- Share of export: 7.88%
